Treasury Laws Amendment (Making Sure Foreign Investors Pay Their Fair Share of Tax in Australia and Other Measures) Act 2019 (34 of 2019)
Schedule 4 Sovereign immunity
Part 1 Amendments
Income Tax Assessment Act 1936
1 After section 99G
99GA Amounts covered by sovereign immunity exemption
Subsection 98(3) does not apply to so much of the net income of a trust estate as represents income to which a beneficiary is presently entitled and gives rise to an amount that is non-assessable non-exempt income because of:
(a) Division 880 of the Income Tax Assessment Act 1997; or
(b) Division 880 of the Income Tax (Transitional Provisions) Act 1997.
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